The North Carolina Legislative Building (Photo: Galen Bacharier/NC Newsline)
A newly formed North Carolina House committee will examine how the legislature could get involved to lower property taxes.
Property taxes in the state are assessed at the local and county level; the state does not determine their rate. But lawmakers, including leading Republicans, have repeatedly expressed a desire to address rates that they argue are prohibitive to home buying and ownership.
Rep. Erin Paré (R-Wake), a co-chair of the committee, said in a news release that they would “work to deliver responsible reforms that balance homeowner affordability with a local government’s ability to meet community needs.”
Those reforms could include, according to the new committee’s charge, a potential amendment to the state constitution to let local governments stray from the “uniformity” requirement that assesses all properties at the same rate.
Also included in the committee’s studies: adjusting the frequency of re-evaluations, reviewing local governments’ spending and finding ways to bridge gaps to keep those local governments funded if rates go down.
Home values in North Carolina have increased significantly over the last decade, according to Federal Reserve data, driving higher tax rates.
The state has multiple programs aimed at property tax relief: one providing a break for homeowners who are over 65, disabled or disabled veterans, and a “circuit breaker” that defers part of a person’s tax bill if it exceeds 5 percent of their income.
House lawmakers earlier this year approved a bill that would have commissioned a study committee on property tax reform. And several other measures proposed expanding existing relief programs.
Still, some lawmakers have urged caution on the issue as they keep a close eye on local government revenue. Rep. Deb Butler (D-New Hanover), during debate this year on a bill to expand the relief for disabled veterans, remarked that “obviously we want to support our veterans” but “we have some unmet needs in this state.”
Any new bills or substantive debate on the issue is almost certain to wait until next year’s “short session.” The state remains without a new budget as leaders in the House and Senate continue to disagree on another tax issue — whether or not to adjust planned gradual income tax cuts.
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